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ČS net profit up to CZK 3.5bn in Q1

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Česká Spořitelna (ČS) reported unaudited consolidated net profit compliant with IFRS totalling CZK 3.5bn for Q1 2017 (up 4.5% y/y). Gross extended loans grew 8.0% to CZK 603.9bn. Liabilities to clients totalled CZK 826.2bn (up 13.7%). Consolidated balance sum reached CZK 1.3108 trillion (up 31.4%). Capital adequacy ratio totalled 19.1%. Board of directors chairman Tomáš Salomon has stated that investments into alternative instruments are increasingly attractive due to persistent low interest rates.


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